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A California biotech just raised $350 million promising to out-perform opioids without the addiction risk, and its auditors were still warning about survival just months ago. Here is what the science and the filings actually show.
Analysts expect new details on the lead-up to the deal “are likely to reignite” investor scrutiny that Vertex overpaid in what’s poised to be its largest-ever transaction.
The biotech's diversification efforts continue.
Vertex Pharmaceuticals recently announced its largest-ever acquisition.
H.C. Wainwright said Crinetics’ lead product Palsonify adds a meaningful commercial product and establishes endocrinology as Vertex’s fifth major business pillar.
The deal values Crinetics at $85 per share in cash, representing a potential upside of about 100% from the stock’s closing price on Monday.
Investing.com -- Vertex Pharmaceuticals Incorporated announced Monday it will acquire Crinetics Pharmaceuticals, Inc. for $85.00 per share in cash, representing a total equity value of approximately $10.0 billion, or approximately $8.8 billion net of estimated cash acquired.
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